The Markerstudy Group is considering shifting its motor insurance company St. Julians from Malta to maintain trade with the U.K. in the event of a complete break with the European Union single market, the insurance group said Friday.
U.K. insurers detected 125,000 dishonest insurance claims worth a total of £1.3 billion ($1.67 billion) in 2016 with the total number falling 5 percent on the year before, new data showed on Friday.
Europe’s top banking watchdog on Thursday ordered investment firms to submit additional data about risks they pose to markets as part of plans to create a new rulebook for investment firms that present little risk to financial stability.
British insurers should avoid releasing excessive amounts of money from their financial reserves in order to boost profits, the Bank of England's chief insurance supervisor said late Thursday.
The U.K.’s top insurance lobby is working on a proposal for a comparison website to help savers make better pension decisions, but fears its plans could be hampered by a regulatory restriction from the Financial Conduct Authority on offering advice, an analyst said on Thursday.
The European Union's new cybersecurity directive hasn't gotten as much attention as an impending overall overhaul of the bloc's data protection rules, but experts say digital and essential service providers will face additional reporting requirements — and potentially fines — once the legislation takes effect in 2018. Here are five things to watch as the new rules take shape.
The U.K. Solicitors Regulation Authority told law firms Thursday to find an alternative insurer to cover litigation risk after an indemnities company regulated in Gibraltar ceased writing any new business.
The chief executive of Britain’s finance regulator said Thursday that Brexit should not curb free trade across Europe’s financial markets, and that firms should not be forced to move from London once it exits the bloc.
A major international insurance group said Thursday that it has lost nearly £7 million ($9 million) due to a change implemented in March to the way U.K. courts calculate lump-sum compensation for personal injury.
A U.K. private intelligence company said Thursday that it will launch a satellite data service next week to help Lloyd’s of London agents assess claims following natural catastrophes, as insurance technology continues to outpace regulatory developments
U.K. banks and other financial services will not get a special trade deal giving them continued free access to the European Union's single market after Britain leaves the bloc, the EU’s chief Brexit negotiator warned Thursday.
Insider trading and market abuse is rampant across London, the U.K. Financial Conduct Authority revealed Wednesday, warning firms that it will step up enforcement after determining that suspicious activity occurs in nearly one in every five deals.
The U.K. government should use annual tax returns to push 4.8 million self-employed workers into automatic pension enrollment, two leading insurers said Wednesday amid fears that many workers risk poverty in old age.
The U.K.’s Prudential Regulation Authority urged insurers on Wednesday to fully identify and manage their cyber protection underwriting risk, amid concerns that firms could face huge payouts in the wake of a large-scale online attack.
The European Insurance and Occupational Pensions Authority on Wednesday called on the European Union to create a blocwide framework to allow authorities to step in and resolve failing insurance and reinsurance firms to protect policyholders and safeguard financial stability.
The U.K. Pensions Regulator said Wednesday that it fined 85 pension schemes for failing to prepare an annual governance statement in the last 12 months, and warned of further penalties for trustees who fail to meet their basic duties.
Members of the European Parliament are rallying behind a legislative proposal to introduce European Union-wide legal protection for whistleblowers reporting illegal activities from inside private companies and public bodies, after publishing a draft report for the motion on Tuesday.
The U.K’s Prudential Regulation Authority announced its expectations on Wednesday for life insurance and reinsurance companies holding illiquid and unrated assets within their Solvency II matching adjustment portfolios, which help firms to reduce their capital buffers under the controversial European regime.
Europe’s top finance regulators on Tuesday clarified rules governing the use of standardized fact-sheets required under the European Union’s regulation on packaged retail and insurance-based investment products, or PRIIPs, which covers retail investment disclosure.
The U.K.’s Prudential Regulation Authority directed insurance companies on Wednesday on how to deal with a “market-turning” series of global catastrophes which could inflict losses as high as $200 billion on insurers.